News Summary

Shares of Tiffany & Co (NYSE: TIF) surged about 8% after the company reported 29% rise in its Q4 net income rose. The company's earnings came in at $181.2 million, or $1.41 per share, versus $140.4 million, or $1.10 per share, in the year-earlier period. The company's sales increased 12% to $1.1 billion. However, analysts were expecting earnings of $1.39 per share on revenue of $1.1 billion. Tiffany lowered its Q1 earnings guidance by $0.05 to $0.57 per share. TIF projected 2011 adjusted earnings of $3.35 to $3.45 per share. However, analysts projected Q1 earnings of $0.55 per share and 2011 earnings of $3.22 per share.

Shares of TGC Industries Inc (NASDAQ: TGE) jumped about 12.5% after Dawson Geophysical Co (NASDAQ: DWSN) agreed to buy TGE for stock valued at $157 million, or $8 per share. Both companies' boards have approved the deal. At the closing of deal, DWSN holders will own 68%, while TGE holders will own 32% of the combined company. The companies are expecting to close the deal late in the second quarter or early in the third quarter.

Shares of optionsXpress Holdings Inc (NASDAQ: OXPS) gained about 15% after Charles Schwab Corp (NYSE: SCHW) announced its plans to acquire OXPS in a stock-for-stock deal valued at around $1 billion. The deal is likely to close in the third quarter.

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